XRP News Today: XRP trades near $2.90 as $3.12 resistance and $2.85 support remain key focus

XRP’s price movement has drawn significant attention from traders and analysts as the token fluctuates around the $3 level, a key psychological threshold. The recent dip below $3 has intensified bearish momentum, with sellers dominating price action as the token trades near $2.90 [1]. Traders are closely monitoring support at $2.85 and resistance at $3.12 as potential turning points in the short term [2]. A close above $3.12 is seen as a critical next step for XRP to gain more upward traction [3].

The recent price action has sparked mixed reactions. A sharp wick on the two-month chart triggered panic among some traders, particularly new investors who interpreted it as a sign of weakness. However, analysts like EGRAG CRYPTO have emphasized that this could be a formation of a strong candle body structure, a positive sign if viewed in the broader context [4]. He warned against making impulsive decisions based on short-term volatility and stressed the importance of patience and strategic positioning [5]. Similarly, Dark Defender noted that the recent dip to $2.8558 was in line with expected patterns and urged traders to avoid over-leveraging, which could lead to emotional decision-making [6].

From a technical perspective, the $2.85 support level has held strong so far, acting as a buffer before potential further declines [7]. If this level is broken, XRP could face more downward pressure before attempting another rebound. On the other hand, if it holds, it could provide a foundation for a renewed rally. The $3.12 resistance level remains a key barrier, with many analysts watching for confirmation of a breakout [8]. A successful close above this level could shift sentiment and attract more buying interest, potentially pushing the price toward $3.33 and $3.43 [9].

Beyond price action, Ripple’s Chief Technology Officer, David Schwartz, has shared plans for a new XRP Ledger (XRPL) server. The server, to be hosted in a New York data center, will run on high-performance hardware and will not be part of Ripple’s official infrastructure. Instead, it will serve as a tool to gather performance data and test network capabilities without compromising the decentralized nature of the XRPL [10]. This initiative highlights Ripple’s ongoing commitment to improving the efficiency and robustness of its blockchain.

While the near-term outlook remains cautious, some analysts remain optimistic about XRP’s longer-term potential. A sustained rebound from key support levels, combined with strong on-chain metrics such as the MVRV Z-Score remaining below historical peaks, suggests that XRP is not overvalued and may still offer upside for long-term investors [11]. The market is now in a waiting period, with traders and analysts monitoring price developments and key levels for potential turning points in the broader trend.

Source:

[1] The (https://thetradable.com/crypto/xrp-price-breaks-below-3-is-2-the-next-stop-ig--a)

[2] Finbold (https://finbold.com/xrp-set-for-further-losses-after-crashing-below-3-new-price-levels-to-watch/)

[3] Brave (https://bravenewcoin.com/insights/xrp-price-prediction-xrp-holds-2-80-support-what-would-a-3-breakout-signal-now)

[4] The (https://thetradable.com/crypto/xrp-price-eyes-rebound-after-drop-to-273-can-bulls-push-it-past-3-ig--a)

[5] AMBCrypto (https://ambcrypto.com/below-3-again-xrp-faces-heavy-pressure-but-this-level-can-flip-the-trend/)

[6] Brave (https://bravenewcoin.com/insights/xrp-price-today-xrp-moves-to-regain-bullish-momentum-as-key-levels-come-into-focus)

[7] CoinMarketCap (https://coinmarketcap.com/community/articles/688ff6cbb247d42126ad753e/)

[8] AInvest (https://www.ainvest.com/news/xrp-news-today-xrp-breaks-symmetrical-triangle-eyes-3-50-resistance-2508/)